Bulten’s Q1 report 2017

2017-04-25Press release

Bulten’s best-ever quarter.

FIRST QUARTER

  • Net sales reached SEK 778 million (715), an increase of 8.8% on the same period last year.
  • Operating earnings (EBIT) were SEK 63 million (55), which corresponds to an operating margin of 8.1% (7.7).
  • Earnings after tax were SEK 51 million (40).
  • Order bookings amounted to SEK 720 million (699), an increase of 3.0% on the same period last year.
  • Cash flow from operating activities was SEK -2 million (78).
  • Earnings per share were SEK 2.59 (2.03).
  • Net cash was SEK 54 million (-114) and the equity/assets ratio at the end of the period was 69.7% (65.2).
  • Bulten is strengthening its position by establishing a production company in the US and by forming a joint venture
    with Ramco for fasteners for the North American market.

CEO’S COMMENTS

“During the first quarter of 2017 we delivered our best-ever results, with earnings per share increasing by 28%.

Net sales during the quarter increased by 8.8% on the same period last year, meaning we once again increased our market share. Bulten continued to develop well in terms of profitability, as a result of higher volumes, good loading and optimized production.

We strengthened both our financial position and our key indicators during the quarter. The operating margin climbed to 8.1% and return on capital employed increased to 14.4%.

During the quarter we strengthened our position on the North American market by establishing a production company and a joint venture with Ramco in Hudson, Ohio. We can now offer our FSP concept on the American market. Bulten’s production for fasteners in the US is expected to start at the end of 2017.

Bulten has started 2017 strongly and our prospects to continue winning market shares are good. Establishing in North America broadens Bulten’s market and creates further opportunities for growth among both new and existing customers.”

Tommy Andersson, President and CEO

Investors, analysts and media are invited to participate in the teleconference on April 25 at 14:30 CET. The report will be presented by Tommy Andersson, President and CEO and Helena Wennerström, Executive Vice President and CFO via audiocast.

The presentation will be held in English and can be followed live via the link: https://wonderland.videosync.fi/bulten-q1-report-2017. It will also be possible to take part of the audiocast afterwards at the same address or at www.bulten.com/ir.

To participate in the teleconference, please call 5 minutes before the opening:
SE: +46856642509
UK: +442030089807
US: +18558315945

Copies of the presentation will be available at www.bulten.com/ir approximately 30 minutes before start.

For further information, please contact:

Tommy Andersson, President and CEO
Tel: + 46 31-734 59 00

Kamilla Oresvärd, Senior Vice President Corporate Communications
Tel: +46 70-520 59 17, e-mail: kamilla.oresvard@bulten.com

This information is information that Bulten AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the Senior Vice President Corporate Communications set out above, at 13:30 CET on April 25, 2017.

Bulten is one of the leading suppliers of fasteners to the international automotive industry. The company’s product range includes everything from customer-specific standard products to customized special fasteners. The company also provides technical development, line-feeding, logistics, material and production expertise. Bulten offers a Full Service Provider concept or parts thereof. The company was founded in 1873, has some 1,300 employees in nine countries and head office in Gothenburg. The share (BULTEN) is listed on Nasdaq Stockholm. Read more at www.bulten.com

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